Support and Resistance with SL and Trend

Overview:
This script builds a complete chart overlay using dynamic pivot-based Support/Resistance zones, adaptive to market volatility. It incorporates SL estimation, visual trade context cues, and trendline structure—all derived from a smart ATR-normalized engine. Ideal for discretionary traders who want structural confluence, rapid proximity alerts, and volatility-aware S/R levels.

Core Components:
> 1. Volatility-Normalized Pivot Detection: The script computes pivot highs/lows using an adaptive strength mechanism, which scales dynamically based on ATR fluctuations. This ensures S/R levels are responsive to shifting volatility regimes, rather than being fixed or rigid.

> 2. Horizontal S/R Line Generation: Pivot highs form resistance zones (Red), while pivot lows map support zones (Green). Lines can be extended or set to expire after a fixed bar duration for clean charting.

> 3. SL Labeling (Structure-Based): Each S/R level is labeled with a corresponding “Sell SL” or “Buy SL”, computed using the extreme structure from the previous 10 bars. This provides a fast visual cue for risk management placement.

> 4. Proximity Highlighting: When price comes within a % threshold (user-defined) of any active S/R level, triangle markers appear—Red near Resistance, Green near Support. These cues reduce screen-watching and help time entries.

> 5. Trendline Projection from Pivot Pairs: Dashed trendlines connect the two most recent swing highs and swing lows respectively, offering additional structure awareness—perfect for spotting compression zones, flags, and swing breaks.

Configuration & Usage Guide:
> 🛠 Inputs You Can Adjust:

Base Swing Strength: Controls how "wide" the pivots are

ATR Sensitivity: Amplifies or softens the impact of volatility on pivot strength

Proximity %: Sets how close price must be to trigger the triangle markers

Extend Lines: Whether S/R lines extend infinitely right or expire after set bars

How to Use It:

Add to chart and configure settings to match your trading style (scalping = higher sensitivity).

Watch for price nearing plotted zones. Triangle markers appear when proximity criteria are met.

Use the SL labels below/above the zones to anchor stop placement relative to structure.

Observe dashed trendlines to define the current local range or trend structure.

Ideal For:
Scalpers wanting S/R zones with trigger cues

Swing traders needing volatility-adaptive structure

Manual traders seeking precise stop placement and trend context

Those who dislike repainting and want structure-driven logic